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Edmonton CMA Top 10 Builders  - Q1 2016

After the first quarter of 2016, the Qualico Group of builders leads the Edmonton Census Metropolitan Area (CMA) with 308 permits. Q1 April 2015 recorded 5,536 permits in the Edmonton CMA compared to 3,231 in Q1 2016 – a nearly 42% decrease.
Yet, there are the proverbial green shoots beginning to appear and the impact of the devastating Fort McMurray fire could prove to be a net positive to greater Edmonton housing.  What is interesting is the dramatic shifts in market share. 10 years ago the top three builders would have controlled about 30% of the total market whereas today it’s not even 20%. This indicates our market is becoming far more fragmented by new, smaller builders in Edmonton that are taking share from the larger builders. These builders are often new entrants to the market like Morrison Homes and Brookfield Residential from Calgary and Mattamy Homes from Toronto.TI)
TOP B UILDERS BY TOTAL PERMITS PULLED (SINGLE & MULTI)
TOP BUILDERS BY TOTAL PERMITS PULLED (SINGLE & MULTI)

Builder
Total Permits (Single & Multi)
Market Share YTD
1
Qualico Group (Augusta, Sterling, Pacesetter, Connect, Streetside)
308
9.5%
2
Brookfield Residential
246
7.6%
3
Daytona Homes Master Builder
109
3.4%
4
Homes by Avi (Edmonton) Inc.
104
3.2%
5
Landmark Group of Companies
84
2.6%
6
Jayman BUILT
79
2.4%
7
Coventry Homes Inc.
76
2.4%
8
Regency Developments
57
1.8%
9
Dolce Vita Homes LP
54
1.7%
10
Lincolnberg Homes
46
1.4%

TOP BUILDERS BY SINGLE PERMITS PULLED

Builder
Single Permits Pulled
Market Share YTD
1
Qualico Group (Augusta, Sterling, Pacesetter, Connect)
132
4.1%
2
Jayman BUILT
69
2.1%
3
Coventry Homes Inc.
66
2.0%
4
Landmark Group of Companies
54
1.7%
5
Brookfield Residential
53
1.6%
6
Homes by Avi (Edmonton) Inc.
49
1.5%
7
Daytona Homes Master Builder
38
1.2%
8
Dolce Vita Homes LP
38
1.2%
9
Morrison Homes
32
1.0%
10
Parkwood Master Builder Inc.
23
0.7%

TOP BUILDERS BY MULTI PERMITS PULLED

Builder
Multi Permits Pulled
Market Share YTD
1
Brookfield Residential
193
6.0%
2
Qualico Group (Sterling, Pacesetter, Connect, Streetside)
176
5.4%
3
Daytona Homes Master Builder
71
2.2%
4
Homes by Avi (Edmonton) Inc.
55
1.7%
5
Regency Developments
36
1.1%
6
Landmark Group of Companies
30
0.9%
7
Lincolnberg Homes
24
0.7%
8
Rohit Group of Companies
24
0.7%
9
Carrington Group ( Carrington Communities)
22
0.7%
10
Cameron Homes Inc.
20
0.6%
Edmonton Neighbourhoods in Revolt Over Residential Lot-Splitting


It’s not just lawn signs now. Legal measures to prevent any increased density are starting to take hold in half a dozen mature neighbourhoods. Most residents of Westbrook have already signed a restrictive covenant to prevent lot-splitting or duplexes in perpetuity and several other neighbourhoods are organizing. “There’s a tremendous number of people upset with this,” said Victoria Archer, a lawyer and resident of Capilano, which scheduled a set of community meetings on restrictive covenants starting next week. “People here are furious with city council, absolutely furious.”

In April 2015, council amended the zoning bylaw to allow anyone to subdivide a residential property at least 50 feet (15.24 metres) wide. They saw it as a fair way to permit a gradual increase in density across the city. But although the deliberations were covered in the media and council held a public hearing, many people didn’t find out until a subdivision happened in their neighbourhood.

Westbrook was the first to rally after a $950,000, 96-foot (29.2 metre) property on Fairway Drive was subdivided. But protests signs are now spreading. Lansdowne, Aspen Gardens, Rio Terrace, Capilano – all have vocal residents realizing the only way to prevent neighbours from splitting their lot and building two homes in place of one is by signing a legally-binding agreement among neighbours. They expect to have 80 per cent of Westbrook homeowners signed on by June. Once that’s done, no one who buys one of those properties can ever subdivide it or build a duplex again. If they try, other signatories can take them to court. The only way to take the caveat off again is by getting every single signatory to agree.

Westbrook resident Darren Jacknisky said the issue is preserving the look and feel of the neighbourhood he bought into. “When you buy into a certain area, you anticipate that area being a certain way. Everyone has their ideal,” Jacknisky said. “I bought here because I wanted to have a good backyard and large side setbacks, so I can have privacy.”

Subdivision isn’t creating more affordable housing, added Archer. What Capilano and its sister neighbourhoods of Greater Hardisty need is more seniors housing, which would free up their former homes for new families, she said.A renovated home is much more affordable than a new home, even if it’s built on half a lot, she said, pointing to new skinny homes going for $500,000 and up.

Councillor Michael Oshry said he sympathizes with residents who say lot-splitting will change the character of a neighbourhood but said they need to recognize this is a gradual process. One or two subdivisions are expected each year in neighbourhoods of 500 to 1,000 houses. “It’s going to be a very, very slow process,” he said. As for residents warning this issue will blow up come next election, Oshry didn’t seem worried. “It’s some people in some neighbourhoods. It will be an issue but is will be one of many issues.”

Neighbourhoods upset over lot splitting:

Westbrook – Organizers in Westbrook expect to have 80 per cent of the homes legally committed to never subdivide or build more than a single-family home on their lot by June, said Darren Jacknisky.
Aspen Gardens – Volunteers are going door-to-door to get commitments of interest from the 510 single-family homes. Organizer Al McCully said they’ve reached a third of the doors so far and are finding strong support.
Lansdowne  One subdivision in the Lansdowne neighbourhood prompted a flurry of protest signs but most residents are still undecided about a restrictive covenant, said organizer Jason Chin.
Greater Hardisty – The neighbourhoods of Capilano, Fulton Place and Gold Bar are tackling this together with meetings scheduled for May 31 and June 6. Some pockets already have overwhelming support for a restrictive covenant, said organizer Victoria Archer. It’s likely blocks of houses will sign on rather than entire neighbourhoods.
Rio Terrace – Several residents organized an information meeting on restrictive covenants last weekend with a lawyer Chris Bowie and several dozen homeowners signed up. Now the community is organizing street captains to go door to door to built support in the rest of the neighbourhood.
Valleyview – Organizers in this subsection of Parkview focused their efforts on the few blocks around the first lot splitting to hit their neighbourhood. “People really don’t get it until it’s across the street from you,” said organizer Lisa Miller. They’ve got many protest signs but are still trying to judge if there will be enough support for a restrictive covenant.
As reported by ELISE STOLTE (Edmonton Journal)
Resale Housing Inventory Up 18%, But Prices Remain Strong


Despite an 18% increase in inventory for the Edmonton Census Metropolitan Area (CMA), residential prices remained stable at $377,283 for April 2016. That is down less than 1% from the previous month and up less than 1% from last year.

The average single family home in the Edmonton CMA sold for $439,982 in April 2016, up marginally over March’s average price of $439,815 and April 2015’s average price of $438,641. Listings and sales unit volumes were down for single family detached homes year-over-year, but up over the previous month.

Prices in the Edmonton and Area market remain stable. This is good news for sellers who have been concerned about selling in a ‘buyer’s market’,” REALTORS® Association of Edmonton Chair Steve Sedgwick said. “Buyers continue to have a great selection of properties to choose from and sellers need to be competitive with their listings. Continued lack of significant movement in the average house price is a good signal that Edmonton’s economy is strong.”

Single family homes had a 51% sales-to-listing ratio for April 2016, up 2% from March and down 3% year-over-year. Duplex/row houses sat at 51% as well, down 14% from 2015 but up 2% from the previous month. With a 38% sales-to-listing ratio (up 2% from last month, down 6% from last year) condos continue to be the most challenging type of property to sell.

1,498 residential properties were sold in the Edmonton CMA in April, up nearly 10% from the previous month, but down 6% from sales reported in April 2015. There were 938 single family detached homes reported sold in the Edmonton CMA, a 9% percent increase month-over-month, and down 6% from the same time last year. 396 condos sold in April, up 18% over March and down 8% over April 2015. 148 duplex/row houses sold in April, up 3% from March and up 7% from April 2015.

“New listings were slightly down in April, but inventory remains high.” Sedgwick continues, “We expect to see sales continue to rise through the early summer months. It will be interesting to see whether there are many new listings adding to the existing inventory in upcoming months.”  

April’s all residential average days-on-market sat at 40 Days. (7 days shorter than the previous year and 13 days shorter than March 2016).  On average in April, single family homes sold in 35 days, condominiums sold in 46 days, and duplex/ row houses sold in an average of 49 days.

Statistics provided by Ray Meredith (CIBC Mortgage Advisor)
CMHC’s Quarterly Study Report On Major Housing Market In Canada


CMHC’s quarterly study reported what’s hot and what’s not and why many residential real estate markets are more hot than others.

As The Globe and Mail’s Tamsin McMahon reports, Canada Mortgage and Housing Corp. flagged 10 of 15 markets for various measures and, for the first time, warned that Vancouver was looking frothy. That’s no surprise to many observers who have often warned of overvaluation in Canada’s two hottest markets, Vancouver and Toronto.

Other analysts, though, have said there’s no big trouble on the horizon in those two cities because both are creating jobs and both have a healthy level of household formation.

The national housing agency looked at four areas: Overheating, measured by the ratio of sales to new listings; price acceleration based on average prices; overvaluation based on average prices and new housing indexes; and overbuilding, based on rental vacancy rates and the stock of completed and unsold condos.

Here’s a look at what CMHC found in few major markets in its second-quarter report.

Vancouver: “The change in our overall assessment from the previous quarter was mainly influenced by a shift from moderate to strong evidence of overvaluation, indicating that home prices are above the level supported by economic and demographic fundamentals. The remaining indicators assessed continue to suggest weak evidence of problematic conditions.”

Calgary: CMHC detected strong evidence of problematic conditions, due to a combination of moderate evidence of overvaluation and overbuilding. A deterioration of economic fundamentals have contributed to moderate evidence of overvaluation.

Edmonton: CMHC detected moderate evidence of problematic conditions in Edmonton’s housing market. Factors such as overheating and price acceleration continued to show weak evidence of problematic conditions.

Toronto: No surprise that CMHC found “strong evidence of problematic conditions.” There’s “strong evidence” of overvaluation, “moderate evidence” of price acceleration, and “weak evidence” of overheating. And “while we do not detect overbuilding, we have some concerns about the high inventory of completed and unsold condominium apartments.”
Why Digital Marketers shouldn’t “Go Viral”

Most marketers would love to go viral. Who wouldn’t want that amazing pickup, millions of shares, tons of attention, the elusive 15 minutes of fame. But going viral isn’t an effective content strategy because it’s not something you can plan for, nor is it something that’s easily replicated for long-term success.

Most viral content has a very short shelf life. It’s forgotten in a few days or a week or two and then consumers have moved on to the next viral worthy item.

Brands should concentrate on creating long-lasting strategies with content that helps their audience connect and relate to them and their products. It’s not that they’re not trying; it may be that they’re trying too hard. If your goal is to go viral, you may be so focused on your content that it loses its natural appeal and just feels contrived.

Don’t Go Viral for The Wrong Reasons
You could also go viral for the wrong reasons: Mountain Dew’s Puppy Monkey Baby Super Bowl commercial went viral, but it was mostly due to the backlash over how strange people found it and the fact that it was nightmare-inducing. There have been more than 22 million views of the Puppy Monkey Baby commercial on Mountain Dew’s YouTube channel. However, most of the user comments are negative. The sentiment isn’t positive.
But, Mountain Dew may not care — because the reality is that more than 22 million people have watched the commercial on YouTube, more than 10,000 people have commented, and it’s being discussed on other channels across social media.

Focus On Producing Useful Content
Focusing on creating great content that people will enjoy and find helpful is a better long-term strategy. If something goes viral, great. But the reality is, most of what you create is never going to go viral. You can win in content marketing by consistently creating great content that’s useful and relevant to how your audience uses or values your product. You don’t need to have the most popular post to be successful. By focusing on going viral, you’re setting yourself up for disappointment.

When you try too hard, it shows, and the audience doesn’t like that.